| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 27th | Poor |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 Buck Ln, Vanceboro, NC, 28586, US |
| Region / Metro | Vanceboro |
| Year of Construction | 1981 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
401 Buck Ln Vanceboro Multifamily Investment Opportunity
Renter concentration and relatively low rent-to-income levels suggest a durable tenant base for a 48-unit asset, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit below the metro median, so underwriting should focus on retention and steady leasing rather than aggressive rent-ups.
The property sits in a suburban neighborhood of the New Bern, NC metro rated B and ranked 26 out of 58 neighborhoods, placing it above the metro median. The area shows a higher renter-occupied share than most of the metro (top quartile among 58 neighborhoods), which supports depth of demand for multifamily units and can aid leasing continuity.
Occupancy measured at the neighborhood level trends below the metro median, pointing to a market where consistent management and tenant retention strategies matter. Median contract rents in the neighborhood are on the lower end regionally, and the rent-to-income profile indicates manageable affordability pressure — a setup that can support lease renewals, though it may temper near-term pricing power.
Within a 3-mile radius, demographics reflect recent population and household contraction, followed by a modest forecast uptick in population and an increase in total households over the next five years. For investors, that suggests a stabilizing renter pool with potential incremental demand, but near-term leasing should not rely on outsized in-migration. The average household size is steady to slightly rising, which can reinforce occupancy stability for conventional unit mixes.
Amenities are mixed: grocery and basic dining access are competitive among New Bern neighborhoods, while cafes, parks, and pharmacies are limited locally. Average school ratings trail national medians, which may influence appeal for family-focused renters and underscores the importance of value, convenience, and onsite services as leasing drivers.
The asset’s 1981 vintage is newer than the neighborhood’s average construction year, offering relative competitiveness versus older stock. Investors should still plan for targeted modernization and systems updates typical for early-1980s construction to sustain occupancy and reduce turnover.
Neighborhood-level crime data are not available in this dataset. Investors typically benchmark safety using municipal reports and property-level incident history, then pair that with pragmatic measures such as lighting, access control, and resident engagement to support retention and leasing stability.
This 48-unit, 1981-built asset offers exposure to a suburban submarket where renter-occupied housing is comparatively high for the metro, supporting a deeper tenant base. Neighborhood occupancy trends are below the metro median, so performance will hinge on hands-on operations and resident retention. According to WDSuite’s multifamily property research, neighborhood-level rents are relatively low versus incomes, which can aid renewal capture while limiting aggressive mark-to-market assumptions.
The 3-mile area shows recent contraction but a modest forecast for population and household growth, suggesting stabilization in the renter pool rather than outsized demand. The property’s vintage is newer than the local average, offering competitive positioning versus older stock; targeted value-add and system updates can further enhance leasing and limit turnover risk. Amenities are serviceable but not amenity-rich, so emphasizing convenience, maintenance responsiveness, and unit-level upgrades will likely matter more than lifestyle positioning.
- High renter-occupied share locally supports depth of tenant demand
- Rent levels relative to incomes favor renewal stability over aggressive rent-ups
- 1981 vintage newer than area average; targeted upgrades can enhance competitiveness
- Forecast stabilization in 3-mile population and households points to steady leasing
- Risks: below-metro neighborhood occupancy and limited nearby amenities may cap pricing power